Stephen Zarsky gets parole in the Collins insider trading case

Jan 24, 2020

In Manhattan Friday afternoon, U.S District Court Judge Vernon S. Broderick sentenced Stephen Zarsky to four years of probation with four months of home confinement and 250 hours of community service for his part in the insider trading scheme that brought down Western New York Republican congressman Chris Collins.

Zarsky, a New Jersey resident, will not have to pay a fine. Last week, Collins was sentenced to 26 months in prison and fined 200 thosand dollars for insider trading and lying to the FBI. Collins told his son Cameron Collins and Zarsky, Cameron's future father in law, to sell their shares in Innate Immunotherapeutics, an Australian biotech firm that included Chris Collins on its board of directors. Chris Collins urged the sale before the news was public in June 2017. Cameron Collins was sentenced Thursday to five years probation, including six months of home confinement, 500 hours of community service, and fined 150 thousand dollars.